ASMPT(00522)2025-02-25 23:05Financial Performance - For the fiscal year ending December 31, 2024, the group reported sales revenue of HKD 132.3 billion (USD 16.9 billion), a decrease of 10.0% year-on-year[7]. - The adjusted profit for the year was HKD 4.26 billion, a decrease of 42.8% year-on-year[7]. - The group recorded total sales revenue of HKD 13.23 billion (1.63 billion), representing a year-on-year growth of 4%, with the semiconductor solutions segment's new orders increasing by 36.7%[30]. - Total new orders for Q4 2024 reached HKD 2,154.1 million (USD 277 million), up 16.0% quarter-on-quarter and 73.3% year-on-year, with total new orders for the year at HKD 7,302.2 million (USD 936 million), an increase of 36.7%[35]. Market Trends and Projections - The total potential market for advanced packaging solutions is projected to expand from USD 1.78 billion in 2024 to USD 4.04 billion by 2029, with a compound annual growth rate of approximately 18%[11]. - The total addressable market (TAM) for TCB is projected to grow from 1 billion by 2027, with a compound annual growth rate (CAGR) exceeding 45%[17]. - The automotive end market is projected to contribute approximately 20% or about 1.3 billion in 2024 to $2.1 billion in 2029, with a compound annual growth rate of about 11%[27]. Profitability and Margins - The gross profit margin was 40.0%, an increase of 70 basis points year-on-year[6]. - The group's gross margin increased by 70 basis points to 40.0%, driven by a 418 basis point increase in the semiconductor solutions segment's gross margin[32]. - The gross margin for Q4 2024 was 42.6%, down 594 basis points quarter-on-quarter and 115 basis points year-on-year, primarily impacted by product mix and high base effects from the previous quarter[39]. - The overall segment profit for semiconductor solutions improved significantly from a loss of HKD 44,058 thousand in 2023 to a profit of HKD 303,509 thousand in 2024[84]. Research and Development - R&D investment for 2024 was approximately HKD 2,080 million, compared to HKD 2,050 million in 2023, with over 2,400 R&D staff and more than 2,000 patents filed[48]. - The company is committed to collaborating with external institutions and R&D experts to accelerate innovation and enhance advanced packaging solutions capabilities[50]. Dividends and Shareholder Returns - The company plans to distribute a total dividend of HKD 0.67 per share for the fiscal year, down from HKD 1.39 per share in the previous year[8]. - The proposed final dividend for the year ending December 31, 2024, is HKD 0.07 per share, a decrease from HKD 0.26 per share in 2023, with a total payout of HKD 29,152,000 for 416,458,633 shares[112]. - The proposed special dividend for the year ending December 31, 2024, is HKD 0.25 per share, down from HKD 0.52 per share in 2023, totaling HKD 104,115,000 for 416,458,633 shares[112]. Employee and Corporate Governance - The total employee cost for the group was HKD 5.19 billion, an increase from HKD 5.02 billion in 2023, reflecting the company's commitment to fair compensation[59]. - The group employed approximately 10,600 employees as of December 31, 2024, with a significant presence in China, Singapore, and Germany[59]. - The company aims to achieve a female board representation of 25% by the end of 2025, reflecting its commitment to diversity and inclusion[61]. - The company’s audit committee consists of four independent non-executive directors and one non-executive director, ensuring robust oversight[134]. - The company has complied with all corporate governance codes as per the listing rules during the fiscal year[132]. Financial Position and Liabilities - The group's cash and bank deposits at the end of 2024 amounted to HKD 5.10 billion, up from HKD 4.80 billion at the end of 2023[33]. - The group's debt-to-equity ratio increased to 0.175 from 0.127 in the previous year, indicating a rise in leverage[51]. - The total non-current liabilities increased from HKD 2,145,930 thousand in 2023 to HKD 4,309,638 thousand in 2024, an increase of approximately 100.7%[72]. - The total equity decreased from HKD 15,803,958 thousand in 2023 to HKD 15,291,501 thousand in 2024, a decline of about 3.2%[72]. Foreign Exchange and Risk Management - The company has established hedging contracts in HKD and EUR to mitigate foreign exchange risks associated with its operations[52]. - The net value of gains and losses from foreign currency forward contracts showed a loss of HKD 120,313,000 for the year ended December 31, 2024, compared to a gain of HKD 8,721,000 in 2023[102]. - The company reported a foreign currency net exchange gain of HKD 119,635,000 in 2024, compared to a loss of HKD 71,824,000 in 2023[102]. Compliance and Regulatory - The company is actively assessing global trends and regulatory developments to mitigate compliance risks and protect its reputation[63]. - The estimated effective tax rate for the group in Germany remains at 26.978% to 32.975% for the year ended December 31, 2024[109].